Last modified: 29/01/2011
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It's in the Wizard
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Nil-rate band
The range below the inheritance tax threshold where inheritance tax is charged at 0% (nil rate).
Video: The transferable nil-rate band
If the value of a deceased person's estate is below the inheritance tax threshold, it is within the nil-rate band.
Tax is said to be charged at "nil rate", or 0%, if an estate falls within the nil-rate band. In this case there will be no inheritance tax.
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